香港新界 元朗流浮山道 DD129地段2288號 CHINA BRILLIANT GLOBAL LIMITED 朗華國際集團有限公 司 （於開曼群島註冊成立之有限公司） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：8026） 更改香港主要辦事處地址 朗華國際集團有限公司（「本公司」）董事會宣佈，自二零二五年七月二十一日起， 本公司的香港主要辧事處的地址已由香港新界元朗廈村石埗路DD125地段#1998 R.P.更改為： 本公司所有電話及傳真號碼將維持不變。 承董事會命 朗華國際集團有限公司 主席 張春華 香港，二零二五年七月十八日 – 1 – 於本公告日期，董事會包括以下董事： 張春華先生（執行董事（主席）） 張春萍女士（執行董事兼首席執行官） 陳美恩女士（獨立非執行董事） 黃敬舒女士（獨立非執行董事） 彭銀先生（獨立非執行董事） 本公告乃遵照GEM上市規則之規定而提供有關本公司之資料，各董事願就此共同及個別承擔 全部責任。各董事經作 ...

[Performance](index=2&type=section&id=%E6%A5%AD%E7%B8%BE) This section provides an overview of the Group's financial performance, position, and equity changes for the year ended March 31, 2025 [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=%E7%B6%9C%E5%90%88%E6%90%8D%E7%9B%8A%E5%8F%8A%E5%85%B6%E4%BB%96%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) The Group turned profitable for the year ended March 31, 2025, recording a net profit of HKD 10,219 thousand, a significant improvement from the previous year's loss of HKD 76,095 thousand, driven by improved performance from continuing operations and zero loss from discontinued operations Consolidated Statement of Profit or Loss and Other Comprehensive Income (HKD thousands) | Indicator | 2025 (HKD thousands) | 2024 (HKD thousands) | Year-on-year Change (HKD thousands) | Year-on-year Change (%) | | :--- | :--- | :--- | :--- | :--- | | Revenue | 107,372 | 91,254 | 16,118 | 17.7% | | Cost of sales | (86,318) | (72,408) | (13,910) | 19.2% | | Gross profit | 21,054 | 18,846 | 2,208 | 11.7% | | Other income and losses, net | 343 | (8,489) | 8,832 | -104.0% | | Profit/(Loss) before tax | 12,537 | (51,537) | 64,074 | -124.3% | | Profit/(Loss) for the year from continuing operations | 10,219 | (54,590) | 64,809 | -118.7% | | Loss for the year from discontinued operations | – | (21,505) | 21,505 | -100.0% | | Profit/(Loss) for the year | 10,219 | (76,095) | 86,314 | -113.4% | | Profit/(Loss) for the year attributable to owners of the Company | 10,068 | (68,926) | 78,994 | -114.6% | | Basic earnings/(loss) per share (HK cents) | 0.69 | (4.73) | 5.42 | -114.6% | [Consolidated Statement of Financial Position](index=4&type=section&id=%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) As of March 31, 2025, the Group's total assets and total equity increased, with an improved net current assets position, indicating a better financial standing, while goodwill was first recognized due to an acquisition Consolidated Statement of Financial Position (HKD thousands) | Indicator | 2025 (HKD thousands) | 2024 (HKD thousands) | Change (HKD thousands) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Total non-current assets | 244,063 | 242,495 | 1,568 | 0.6% | | Total current assets | 144,805 | 122,697 | 22,108 | 18.0% | | Total current liabilities | 54,462 | 41,100 | 13,362 | 32.5% | | Net current assets | 90,343 | 81,597 | 8,746 | 10.7% | | Total assets less current liabilities | 334,406 | 324,092 | 10,314 | 3.2% | | Net assets | 334,066 | 324,092 | 9,974 | 3.1% | | Total equity | 334,066 | 324,092 | 9,974 | 3.1% | | Goodwill | 1,823 | – | 1,823 | Not applicable | - Trade receivables significantly increased from **HKD 435 thousand** to **HKD 29,641 thousand**, primarily due to the completion of trading business transactions[5](index=5&type=chunk)[63](index=63&type=chunk) - Trade payables significantly increased from **HKD 575 thousand** to **HKD 25,213 thousand**, primarily due to the completion of trading business transactions[5](index=5&type=chunk)[63](index=63&type=chunk) [Consolidated Statement of Changes in Equity](index=6&type=section&id=%E7%B6%9C%E5%90%88%E6%AC%8A%E7%9B%8A%E8%AE%8A%E5%8B%95%E8%A1%A8) The Group's total equity increased to HKD 334,066 thousand as of March 31, 2025, primarily driven by the profit for the year and share allotments under the share award scheme, offsetting negative foreign currency translation differences Consolidated Statement of Changes in Equity (HKD thousands) | Equity Item | March 31, 2025 (HKD thousands) | March 31, 2024 (HKD thousands) | | :--- | :--- | :--- | | Share capital | 151,844 | 145,724 | | Reserves | 181,749 | 178,368 | | Equity attributable to owners of the Company | 333,593 | 324,092 | | Non-controlling interests | 473 | – | | Total equity | 334,066 | 324,092 | - Profit for the year attributable to owners of the Company of **HKD 10,068 thousand** had a positive impact on equity, compared to a loss of **HKD 68,926 thousand** in the prior year[6](index=6&type=chunk) - Allotment of shares under the share award scheme resulted in an increase in share capital of **HKD 6,120 thousand**[6](index=6&type=chunk) [Notes](index=7&type=section&id=%E9%99%84%E8%A8%BB) This section provides detailed notes to the financial statements, covering general information, accounting policies, segment information, and specific financial line items [General Information](index=7&type=section&id=%E4%B8%80%E8%88%AC%E8%B3%87%E6%96%99) The Company is incorporated in the Cayman Islands, listed on GEM of the Hong Kong Stock Exchange, with its principal place of business in Hong Kong, and its consolidated financial statements are presented in HKD thousands - Company Name: **CHINA BRILLIANT GLOBAL LIMITED**[2](index=2&type=chunk)[9](index=9&type=chunk) - Place of Incorporation: **Cayman Islands**[9](index=9&type=chunk) - Listing Venue: **GEM of The Stock Exchange of Hong Kong Limited**[2](index=2&type=chunk)[9](index=9&type=chunk) - Functional and Presentation Currency: **Hong Kong Dollars (HKD thousands)**[9](index=9&type=chunk) [Application of Revised Hong Kong Financial Reporting Standards](index=7&type=section&id=%E6%87%89%E7%94%A8%E7%B6%93%E4%BF%AE%E8%A8%82%E9%A6%99%E6%B8%AF%E8%B2%A1%E5%8B%99%E5%A0%B1%E5%91%8A%E6%9C%83%E8%A8%88%E6%BA%96%E5%89%87) Several new and revised HKFRSs were applied for the first time this year without significant impact on the Group's financial position or performance, and future standards are also not expected to have a material effect - New and revised Hong Kong Financial Reporting Standards, including HKFRS 16 (Amendment) "Lease Liability in a Sale and Leaseback", were applied this year[10](index=10&type=chunk) - The application of revised HKFRSs had no significant impact on the Group's financial position, performance, and/or disclosures in the consolidated financial statements for the current and prior years[10](index=10&type=chunk) - Revised standards issued but not yet effective, such as HKFRS 18 "Presentation and Disclosure in Financial Statements", are not expected to have a significant impact on the consolidated financial statements in the foreseeable future[11](index=11&type=chunk) [Significant Accounting Policies](index=8&type=section&id=%E9%87%8D%E5%A4%A7%E6%9C%83%E8%A8%88%E6%94%BF%E7%AD%96%E8%B3%87%E6%96%99) The consolidated financial statements are prepared in accordance with HKFRSs and generally accepted accounting principles, primarily on a historical cost basis, with certain financial instruments measured at fair value, and business combinations accounted for using the acquisition method - The consolidated financial statements are prepared in accordance with all applicable Hong Kong Financial Reporting Standards issued by the HKICPA and generally accepted accounting principles in Hong Kong[12](index=12&type=chunk) - The consolidated financial statements are prepared on a historical cost basis, except for certain financial instruments measured at fair value at the end of the reporting period[14](index=14&type=chunk) - Business combinations are accounted for using the acquisition method, with control determined by the ability to exercise power over the investee, exposure to variable returns, and the ability to affect those returns[16](index=16&type=chunk)[18](index=18&type=chunk)[19](index=19&type=chunk) [Operating Segment Information](index=10&type=section&id=%E7%B6%93%E7%87%9F%E5%88%86%E9%83%A8%E8%B3%87%E6%96%99) The Group operates four continuing business segments: gold and jewelry, money lending, property management services, and the newly introduced trading business, with overall revenue growth driven by property management and trading, offsetting declines in gold and jewelry and money lending - The Group has four continuing operating segments: gold and jewelry business, money lending business, property management services business, and the newly launched trading business[21](index=21&type=chunk) Continuing Operations Segment Revenue and Results (HKD thousands) | Segment | 2025 Revenue (HKD thousands) | 2024 Revenue (HKD thousands) | 2025 Segment Results (HKD thousands) | 2024 Segment Results (HKD thousands) | | :--- | :--- | :--- | :--- | :--- | | Gold and jewelry business | 60,967 | 71,810 | 3,910 | (2,827) | | Money lending business | 774 | 2,461 | 708 | (1,732) | | Property management services business | 20,345 | 16,983 | 15,287 | 11,706 | | Trading business | 25,286 | – | 202 | – | | **Total** | **107,372** | **91,254** | **20,107** | **7,147** | Segment Assets and Liabilities (HKD thousands) | Segment | 2025 Segment Assets (HKD thousands) | 2024 Segment Assets (HKD thousands) | 2025 Segment Liabilities (HKD thousands) | 2024 Segment Liabilities (HKD thousands) | | :--- | :--- | :--- | :--- | :--- | | Gold and jewelry business | 13,448 | 11,768 | 2,851 | 4,938 | | Money lending business | 1,555 | 11,576 | – | 10,275 | | Property management services business | 24,824 | 13,491 | 1,921 | 3,294 | | Trading business | 25,286 | – | 25,084 | – | | **Total Segments** | **65,113** | **36,835** | **29,856** | **18,507** | Geographical Revenue and Non-current Assets (HKD thousands) | Region | 2025 Revenue (HKD thousands) | 2024 Revenue (HKD thousands) | 2025 Non-current Assets (HKD thousands) | 2024 Non-current Assets (HKD thousands) | | :--- | :--- | :--- | :--- | :--- | | China | 81,312 | 89,585 | 713 | 840 | | Hong Kong | 26,060 | 1,669 | 593 | 661 | | **Total** | **107,372** | **91,254** | **1,306** | **1,501** | Major Customer Revenue (HKD thousands) | Customer | 2025 Revenue (HKD thousands) | 2024 Revenue (HKD thousands) | | :--- | :--- | :--- | | Customer A (Gold and jewelry business) | 25,666 | 59,606 | | Customer B (Trading business) | 25,286 | Not applicable | | **Total** | **50,952** | **59,606** | [Revenue](index=17&type=section&id=%E6%94%B6%E7%9B%8A) The Group's total revenue for 2025 was HKD 107,372 thousand, an increase of 17.7% year-on-year, primarily derived from contracts with customers for gold and jewelry product trading, product trading, property management, and value-added services, supplemented by loan interest income and fixed lease payments from car park operations Revenue Sources Breakdown (HKD thousands) | Revenue Source | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | **Revenue from contracts with customers** | | | | Trading of gold and jewelry products | 60,470 | 71,810 | | Commission income | 497 | 792 | | Product trading | 25,286 | – | | Property management services | 17,828 | 15,062 | | Value-added services | 1,110 | 468 | | **Subtotal** | **105,191** | **88,132** | | **Revenue from other sources** | | | | Loan interest income | 774 | 1,669 | | Fixed lease payments from car park operations | 1,407 | 1,453 | | **Total Revenue** | **107,372** | **91,254** | [Other Income and Losses, Net](index=18&type=section&id=%E5%85%B6%E4%BB%96%E6%94%B6%E7%9B%8A%E5%8F%8A%E虧%E6%90%8D%E6%B7%A8%E9%A1%8D) Other income and losses, net, turned from a loss of HKD 8,489 thousand last year to an income of HKD 343 thousand this year, mainly due to a reduction in fair value losses on financial liabilities at fair value through profit or loss and a gain from changes in fair value of contingent consideration payable Other Income and Losses, Net Breakdown (HKD thousands) | Item | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Bank interest income | 78 | 79 | | Net exchange loss | (2) | (19) | | Loss from changes in fair value of financial liabilities at fair value through profit or loss | – | (8,688) | | Loss from changes in fair value of financial assets at fair value through profit or loss | (60) | – | | Gain from changes in fair value of contingent consideration payable | 100 | – | | Gain on disposal of interest in an associate | – | 10 | | Miscellaneous income | 227 | 129 | | **Total** | **343** | **(8,489)** | [Finance Costs](index=18&type=section&id=%E8%B2%A1%E5%8B%99%E8%B2%BB%E7%94%A8) Finance costs slightly increased to HKD 497 thousand this year, primarily due to increased interest on amounts due to a director Finance Costs Breakdown (HKD thousands) | Item | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Interest on lease liabilities | 1 | 48 | | Interest on amount due to a director | 496 | 436 | | **Total** | **497** | **484** | [Profit/(Loss) Before Tax](index=19&type=section&id=%E9%99%A4%E7%A8%85%E5%89%8D%E6%BA%A2%E5%88%A9%E3%84%89%EF%BC%88%E虧%E6%90%8D%EF%BC%89) The Group's profit/(loss) before tax calculation considers various expenses and the reversal or recognition of impairment losses, with a significant reversal of impairment losses of HKD 2,445 thousand this year, a key factor in the improved pre-tax results Profit/(Loss) Before Tax Adjustment Items (HKD thousands) | Item | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Amortisation of intangible assets | 109 | 1,827 | | Cost of inventories sold | 86,006 | 71,287 | | Depreciation of property, plant and equipment | 245 | 475 | | Depreciation of right-of-use assets | 77 | 922 | | (Reversal of) / recognition of impairment losses under expected credit loss model, net | (2,445) | 23,803 | | Employee benefit expenses (including directors' emoluments) | 7,187 | 29,121 | - Employee benefit expenses significantly decreased, primarily due to a one-off employee share award scheme expense of **HKD 20,503 thousand** in the prior year[32](index=32&type=chunk)[53](index=53&type=chunk) [Income Tax Expense](index=20&type=section&id=%E6%89%80%E5%BE%97%E7%A8%85%E9%96%8B%E6%94%AF) Income tax expense decreased to HKD 2,318 thousand this year, mainly due to a reduction in corporate income tax for the property management services business, with no provision for Hong Kong profits tax due to a one-off concession Income Tax Expense (HKD thousands) | Item | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | PRC corporate income tax | 2,318 | 3,053 | - No provision for Hong Kong profits tax was made due to a one-off concession provided by the Inland Revenue Department[34](index=34&type=chunk) - The tax rate for the PRC subsidiaries was **25%** for both years[34](index=34&type=chunk) [Earnings/(Loss) Per Share](index=21&type=section&id=%E6%AF%8F%E8%82%A1%E7%9B%88%E5%88%A9%E3%84%89%EF%BC%88%E虧%E6%90%8D%EF%BC%89) Basic earnings per share for the year improved significantly to **HKD 0.69 cents** from a basic loss per share of **HKD 4.73 cents** last year, with diluted earnings per share being similar to basic earnings per share due to the anti-dilutive effect of unexercised share options Earnings/(Loss) Per Share Calculation | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Profit/(Loss) for the purpose of calculating basic and diluted earnings/(loss) per share (HKD thousands) | 10,068 | (68,926) | | Weighted average number of ordinary shares for basic earnings/(loss) per share (thousands of shares) | 1,462,339 | 1,457,239 | | Weighted average number of ordinary shares for diluted earnings/(loss) per share (thousands of shares) | 1,486,482 | 1,457,239 | | Basic earnings/(loss) per share (HK cents) | 0.69 | (4.73) | | Diluted earnings/(loss) per share (HK cents) | 0.68 | (4.73) | - Diluted loss per share was similar to basic loss per share as unexercised share options had an anti-dilutive effect on the basic loss per share in 2024[35](index=35&type=chunk) [Trade Receivables](index=22&type=section&id=%E8%B2%BF%E6%98%93%E6%87%89%E6%94%B6%E8%B3%A6%E6%AC%BE) The Group's trade receivables significantly increased to HKD 29,641 thousand, primarily due to trading business transactions, with a maximum credit period of six months and no overdue amounts as of March 31, 2025 Trade Receivables Breakdown and Ageing Analysis (HKD thousands) | Item | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Trade receivables from contracts with customers | 29,641 | 3,572 | | Less: Provision for credit losses | – | (3,137) | | **Net** | **29,641** | **435** | | **Ageing Analysis** | | | | Within 3 months | 29,641 | 378 | | 4 to 6 months | – | 57 | | **Total** | **29,641** | **435** | - Trade receivables generally have a maximum credit period of **six months** and are unsecured and interest-free[36](index=36&type=chunk) - As of March 31, 2025, no trade receivables were overdue[36](index=36&type=chunk) [Loans Receivable](index=23&type=section&id=%E6%87%89%E6%94%B6%E8%B2%B8%E6%AC%BE) Net loans receivable from the money lending business were zero as of March 31, 2025, due to a full credit loss allowance recognized for the principal amount of HKD 3,836 thousand, with these loans being unsecured corporate loans bearing a fixed annual interest rate of 8% over a 1-year term Loans Receivable Breakdown (HKD thousands) | Item | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Loans receivable from money lending business | 3,836 | 14,327 | | Less: Provision for credit losses | (3,836) | (3,836) | | **Net loans receivable** | **–** | **10,491** | - Loans receivable are unsecured corporate loans bearing a fixed annual interest rate of **8%** with a loan period of **1 year**[38](index=38&type=chunk) - As of March 31, 2025, a full allowance for expected credit losses of **HKD 3,836 thousand** was recognized for the loans receivable balance, resulting in a net carrying amount of zero[37](index=37&type=chunk)[64](index=64&type=chunk) [Trade Payables](index=23&type=section&id=%E8%B2%BF%E6%98%93%E6%87%89%E4%BB%98%E8%B3%A6%E6%AC%BE) The Group's trade payables significantly increased to HKD 25,213 thousand, primarily due to trading business transactions, with an average credit period from suppliers ranging from 30 to 180 days Trade Payables Ageing Analysis (HKD thousands) | Ageing | 2025 (HKD thousands) | 2024 (HKD thousands) | | :--- | :--- | :--- | | Within 3 months | 25,213 | 91 | | Over 1 year | – | 484 | | **Total** | **25,213** | **575** | - The average credit period granted by suppliers ranges from **30 to 180 days**[39](index=39&type=chunk) [Share Capital](index=24&type=section&id=%E8%82%A1%E6%9C%AC) The Company's authorized share capital is HKD 250,000 thousand, and its issued and fully paid share capital increased to HKD 151,844 thousand due to the allotment of shares to employees under the share award scheme Share Capital Structure (HKD thousands) | Category | Number of Shares (thousands of shares) | Amount (HKD thousands) | | :--- | :--- | :--- | | Authorized ordinary shares (par value HKD 0.10 per share) | 2,500,000 | 250,000 | | Issued and fully paid ordinary shares (April 1, 2024) | 1,457,239 | 145,724 | | Shares granted to employees under share award scheme | 61,204 | 6,120 | | **Issued and fully paid ordinary shares (March 31, 2025)** | **1,518,443** | **151,844** | [Business Review and Outlook](index=25&type=section&id=%E6%A5%AD%E5%8B%99%E5%9B%9E%E9%A1%A7%E5%8F%8A%E5%B1%95%E6%9C%9B) This section reviews the performance of the Group's various business segments and outlines future strategies and prospects [Gold and Jewelry Business](index=25&type=section&id=%E9%BB%83%E9%87%91%E5%8F%8A%E7%8F%A0%E5%AF%B6%E6%A5%AD%E5%8B%99) The Group's gold and jewelry business, encompassing wholesale, retail, and related services, saw a decline in revenue this year due to high international gold prices dampening consumer sentiment, with future plans to expand sales channels in South China and increase sales to high-end corporate clients - Revenue from the gold and jewelry business decreased from **HKD 71,810 thousand** to **HKD 60,967 thousand**, a reduction of approximately **HKD 10,843 thousand**[42](index=42&type=chunk) - The decrease in revenue was primarily due to persistently high international gold prices, which dampened consumer purchasing sentiment[42](index=42&type=chunk) - Future plans include seeking more jewelry wholesale clients in South China, expanding sales channels for the secondary gold agency business, and increasing the proportion of sales to high-end corporate clients[41](index=41&type=chunk) [Property Management Services Business](index=26&type=section&id=%E7%89%A9%E6%A5%AD%E7%AE%A1%E7%90%86%E6%9C%8D%E5%8B%99%E6%A5%AD%E5%8B%99) The Group's property management business, expanded through the acquisition of Langhua Property, focuses on property management and IoT technology applications for industrial parks, achieving robust revenue growth this year due to increased managed area in Foshan, with continued investment planned for smart park and digital twin systems - Revenue from property management services business increased from **HKD 16,983 thousand** to **HKD 20,345 thousand**, an increase of approximately **HKD 3,362 thousand**[44](index=44&type=chunk) - The revenue growth was primarily due to an increase in managed area in Foshan by **650,000 square meters**[44](index=44&type=chunk) - Langhua Property has developed an "Industrial Asset Management and Technology Operation Service Platform" integrating eight major intelligent building systems, with smart parks and digital twin systems as long-term investment directions[43](index=43&type=chunk)[44](index=44&type=chunk)[45](index=45&type=chunk) [Money Lending Business](index=27&type=section&id=%E5%80%9F%E8%B2%B8%E6%A5%AD%E5%8B%99) The Group's money lending business in Hong Kong, primarily offering short-term unsecured corporate loans, experienced a significant decline in revenue this year due to reduced loan amounts and fewer borrowers, resulting in a segment loss - Revenue from the money lending business decreased from **HKD 2,461 thousand** to **HKD 774 thousand**, a reduction of approximately **HKD 1,687 thousand**[46](index=46&type=chunk) - The decrease in revenue was primarily due to a reduction in loan amounts and a decrease in the number of borrowers from **6 to 4**[46](index=46&type=chunk) - Loans are primarily unsecured corporate loans with interest rates ranging from **5% to 8% per annum**, targeting electronic equipment manufacturers[46](index=46&type=chunk)[47](index=47&type=chunk) [Trading Business](index=28&type=section&id=%E8%B2%B7%E8%B3%A3%E6%A5%AD%E5%8B%99) The Group's newly launched trading business recorded significant revenue this year, primarily from one-off transactions, contributing to overall revenue growth - Revenue from the trading business was approximately **HKD 25,286 thousand**, generated from new trading activities during the year, with no comparable activities in the previous financial year[48](index=48&type=chunk) [Financial Review, Business Performance and Outlook](index=28&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7%E3%80%81%E6%A5%AD%E5%8B%99%E8%A1%A8%E7%8F%BE%E5%8F%8A%E5%B1%95%E6%9C%9B) This section provides a comprehensive review of the Group's financial performance, key business drivers, and future outlook, highlighting significant changes in revenue, costs, and profitability [Revenue](index=28&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7%E3%80%81%E6%A5%AD%E5%8B%99%E8%A1%A8%E7%8F%BE%E5%8F%8A%E5%B1%95%E6%9C%9B%20-%20%E6%94%B6%E7%9B%8A) The Group's revenue for the year ended March 31, 2025, was approximately HKD 107,372 thousand, an increase of 17.7% year-on-year, with growth driven by property management services and the trading business, offsetting challenges in gold and jewelry and money lending - The Group's total revenue was approximately **HKD 107,372 thousand**, an increase of approximately **17.7%** compared to the same period last year[49](index=49&type=chunk) - Revenue growth was primarily supported by the strong expansion of property management services and increased contributions from the trading business segment, offsetting declines in the gold and jewelry and money lending segments[49](index=49&type=chunk) [Cost of Sales and Gross Profit Margin](index=28&type=section&id=%E9%8A%B7%E5%94%AE%E9%96%8B%E6%94%AF%E5%8F%8A%E6%AF%9B%E5%88%A9%E7%8E%87) Cost of sales increased by 19.2%, leading to a slight decrease in overall gross profit margin from 20.7% to 19.6%, primarily due to the high-margin property management business being partially offset by lower-margin gold and jewelry and trading businesses - Cost of sales increased from **HKD 72,408 thousand** to **HKD 86,318 thousand**, an increase of approximately **19.2%**[50](index=50&type=chunk) - The overall gross profit margin slightly decreased from approximately **20.7%** to **19.6%**[50](index=50&type=chunk) - The higher-margin property management business accounted for the majority of revenue (**93.5%** in 2025), partially offset by the lower gross profit margins of the gold and jewelry business (**1.7%** in 2025) and trading business (**0.8%** in 2025)[50](index=50&type=chunk) [Other Income and Losses, Net](index=28&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7%E3%80%81%E6%A5%AD%E5%8B%99%E8%A1%A8%E7%8F%BE%E5%8F%8A%E5%B1%95%E6%9C%9B%20-%20%E5%85%B6%E4%BB%96%E6%94%B6%E7%9B%8A%E5%8F%8A%E虧%E6%90%8D%E6%B7%A8%E9%A1%8D) Other income and losses, net, turned into an income of HKD 343 thousand this year from a loss of HKD 8,489 thousand last year, primarily due to a reduction in fair value changes of financial liabilities at fair value through profit or loss - Other income and losses, net, was an income of approximately **HKD 343 thousand**, a decrease of approximately **HKD 8,832 thousand** compared to 2024 (2024: loss of **HKD 8,489 thousand**)[51](index=51&type=chunk) - The decrease was primarily due to a reduction in fair value changes of financial liabilities at fair value through profit or loss[51](index=51&type=chunk) [Selling Expenses](index=29&type=section&id=%E9%8A%B7%E5%94%AE%E9%96%8B%E6%94%AF) Selling expenses slightly increased to HKD 43 thousand, mainly due to higher marketing and promotion expenses for the gold and jewelry trading and retail businesses - Selling expenses increased from **HKD 39 thousand** to **HKD 43 thousand**[52](index=52&type=chunk) - The slight increase was primarily due to increased marketing and promotion expenses for the gold and jewelry trading and retail businesses[52](index=52&type=chunk) [Administrative Expenses](index=29&type=section&id=%E8%A1%8C%E6%94%BF%E9%96%8B%E6%94%AF) Administrative expenses significantly decreased by approximately HKD 26,803 thousand to HKD 10,765 thousand, mainly due to a one-off employee share award scheme expense in the prior year, reduced audit fees, depreciation of right-of-use assets, and legal and professional fees - Administrative expenses decreased from **HKD 37,568 thousand** to **HKD 10,765 thousand**, a reduction of approximately **HKD 26,803 thousand**[53](index=53&type=chunk) - This was primarily due to (i) a one-off employee share award scheme expense of **HKD 20,503 thousand** for the year ended March 31, 2024; (ii) a decrease in audit fees of **HKD 965 thousand**; (iii) a decrease in depreciation of right-of-use assets of **HKD 845 thousand**; and (iv) a decrease in legal and professional fees of **HKD 2,211 thousand**[53](index=53&type=chunk) [Finance Costs](index=29&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7%E3%80%81%E6%A5%AD%E5%8B%99%E8%A1%A8%E7%8F%BE%E5%8F%8A%E5%B1%95%E6%9C%9B%20-%20%E8%B2%A1%E5%8B%99%E8%B2%BB%E7%94%A8) Finance costs slightly increased to HKD 497 thousand, primarily due to interest on borrowings commencing in May 2023 - Finance costs increased from **HKD 484 thousand** to **HKD 497 thousand**, an increase of approximately **HKD 13 thousand**[54](index=54&type=chunk) - The increase in costs was primarily due to interest on borrowings commencing in May 2023[54](index=54&type=chunk) [Impairment Losses Recognized Under Expected Credit Loss Model, Net of Reversals](index=29&type=section&id=%E6%A0%B9%E6%93%9A%E9%A0%90%E6%9C%9F%E4%BF%A1%E8%B2%B8%E虧%E6%90%8D%E6%A8%A1%E5%BC%8F%E7%A2%BA%E8%AA%8D%E4%B9%8B%E6%B8%9B%E5%80%BC%E虧%E6%90%8D%EF%BC%8C%E6%89%A3%E9%99%A4%E6%92%A5%E5%9B%9E) The Group recorded a reversal of impairment losses of HKD 2,445 thousand under the expected credit loss model this year, compared to a recognition of HKD 23,803 thousand last year, indicating an improvement in credit risk profile - For the year ended March 31, 2025, impairment losses reversed (net of reversals) under the expected credit loss model were approximately **HKD 2,445 thousand** (2024: recognition of **HKD 23,803 thousand**)[55](index=55&type=chunk) [Income Tax Expense](index=29&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7%E3%80%81%E6%A5%AD%E5%8B%99%E8%A1%A8%E7%8F%BE%E5%8F%8A%E5%B1%95%E6%9C%9B%20-%20%E6%89%80%E5%BE%97%E7%A8%85%E9%96%8B%E6%94%AF) Income tax expense decreased to HKD 2,318 thousand, primarily due to a reduction in corporate income tax for the property management services business - Income tax expense decreased from **HKD 3,053 thousand** to **HKD 2,318 thousand**[56](index=56&type=chunk) - The decrease was primarily due to a reduction in corporate income tax for the property management services business[56](index=56&type=chunk) [Discontinued Operations](index=30&type=section&id=%E5%B7%B2%E7%B5%82%E6%AD%A2%E7%B6%93%E7%87%9F%E6%A5%AD%E5%8B%99) The fintech business was disposed of on October 5, 2023, resulting in zero loss from discontinued operations for the current year - The disposal of the fintech business was completed on **October 5, 2023**, and Smartland Holdings Limited and its subsidiaries are no longer subsidiaries of the Company[57](index=57&type=chunk) - Loss from discontinued operations for the year ended March 31, 2025, was **zero** (2024: **HKD 21,505 thousand**)[57](index=57&type=chunk) [Results for the Year](index=30&type=section&id=%E6%9C%AC%E5%B9%B4%E5%BA%A6%E6%A5%AD%E7%B8%BE) The Group recorded a net profit of HKD 10,219 thousand for the year, reversing a loss of HKD 76,095 thousand in the prior year, primarily driven by operating profit from property management and reversal of impairment losses in the gold and jewelry business, partially offset by holding company operating expenses and income tax - For the year ended March 31, 2025, the Group recorded a net profit of approximately **HKD 10,219 thousand**, compared to a loss of approximately **HKD 76,095 thousand** in the prior year[58](index=58&type=chunk) - The profit for the year primarily included (i) operating profit from the property management business of **HKD 15,796 thousand**; and (ii) reversal of impairment losses under the expected credit loss model for the gold and jewelry business of **HKD 3,175 thousand**[58](index=58&type=chunk) [Dividends](index=30&type=section&id=%E8%82%A1%E6%81%AF) The Board of Directors does not recommend the payment of any dividend for the year ended March 31, 2025 - The Board of Directors does not recommend the payment of any dividend for the year ended March 31, 2025[59](index=59&type=chunk) [Leases](index=30&type=section&id=%E7%A7%9F%E8%B3%83) As of March 31, 2025, no right-of-use assets or lease liabilities were recognized in the Group's consolidated statement of financial position, as all previous leases had expired - As of March 31, 2025, the Group did not recognize any right-of-use assets or lease liabilities in the consolidated statement of financial position, as all previous leases had expired[60](index=60&type=chunk) [Goodwill](index=30&type=section&id=%E5%95%86%E8%AD%BD) The Group recognized goodwill of HKD 1,823 thousand as of March 31, 2025, resulting from the acquisition of Hong Kong Letu Holdings Limited during the year - As of March 31, 2025, the Group recognized goodwill of **HKD 1,823 thousand** (2024: zero), resulting from the acquisition of Hong Kong Letu Holdings Limited during the year[61](index=61&type=chunk) [Inventories](index=30&type=section&id=%E5%AD%98%E8%B2%A8) Inventories increased to HKD 2,928 thousand as of March 31, 2025, primarily due to rising gold prices - As of March 31, 2025, inventories increased to **HKD 2,928 thousand** (2024: **HKD 2,681 thousand**), primarily due to rising gold prices[62](index=62&type=chunk) [Trade Receivables and Trade Payables](index=30&type=section&id=%E8%B2%BF%E6%98%93%E6%87%89%E6%94%B6%E8%B3%A6%E6%AC%BE%E5%8F%8A%E8%B2%BF%E6%98%93%E6%87%89%E4%BB%98%E8%B3%A6%E6%AC%BE) The Group's trade receivables and trade payables both recorded significant increases compared to the previous financial year, primarily due to trading business transactions completed during the year - As of March 31, 2025, the Group recorded significant increases in trade receivables (**HKD 29,206 thousand**) and trade payables (**HKD 24,638 thousand**) compared to the previous financial year, primarily due to trading business transactions completed during the year[63](index=63&type=chunk) [Loans Receivable](index=31&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7%E3%80%81%E6%A5%AD%E5%8B%99%E8%A1%A8%E7%8F%BE%E5%8F%8A%E5%B1%95%E6%9C%9B%20-%20%E6%87%89%E6%94%B6%E8%B2%B8%E6%AC%BE) As of March 31, 2025, the Group's loans receivable amounted to HKD 3,836 thousand, for which a full allowance for expected credit losses was recognized, resulting in a net carrying amount of zero - As of March 31, 2025, the Group's loans receivable amounted to **HKD 3,836 thousand** (2024: **HKD 10,491 thousand**), for which a full allowance for expected credit losses of **HKD 3,836 thousand** was recognized based on credit and impairment assessments[64](index=64&type=chunk) - Consequently, the net carrying amount of loans receivable was **zero** at the reporting date[64](index=64&type=chunk) [Amounts Due from/to Related Companies](index=31&type=section&id=%E6%87%89%E6%94%B6%E3%84%89%EF%BC%8F%E6%87%89%E4%BB%98%E9%97%9C%E8%81%AF%E5%85%AC%E5%8F%B8%E6%AC%BE%E9%A0%85) As of March 31, 2025, both amounts due from and to related companies decreased compared to the previous financial year, with the reduction in amounts due to related companies primarily attributable to loan repayments during the year - As of March 31, 2025, both amounts due from and to related companies decreased compared to the previous financial year[65](index=65&type=chunk) - The decrease in amounts due to related companies was primarily due to loan repayments of **HKD 12,090 thousand** during the year[65](index=65&type=chunk) [Contract Liabilities](index=31&type=section&id=%E5%90%88%E7%B4%84%E8%B2%A0%E5%82%B5) Contract liabilities decreased to HKD 377 thousand as of March 31, 2025, primarily due to a reduction in prepayments received from customers for the sale of goods - As of March 31, 2025, contract liabilities decreased to **HKD 377 thousand** (2024: **HKD 4,314 thousand**), primarily due to a reduction in prepayments received from customers for the sale of goods[66](index=66&type=chunk) [Contingent Consideration Payable](index=31&type=section&id=%E6%87%89%E4%BB%98%E6%88%96%E7%84%B6%E4%BB%A3%E5%83%B9) Contingent consideration payable refers to the liability arising from the acquisition of Hong Kong Letu Holdings Limited - Contingent consideration payable refers to the acquisition of Hong Kong Letu Holdings Limited[67](index=67&type=chunk) [Total Equity](index=31&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7%E3%80%81%E6%A5%AD%E5%8B%99%E8%A1%A8%E7%8F%BE%E5%8F%8A%E5%B1%95%E6%9C%9B%20-%20%E6%AC%8A%E7%9B%8A%E7%B8%BD%E9%A1%8D) The Group's total equity increased by approximately HKD 9,974 thousand to HKD 334,066 thousand, primarily benefiting from the profit recorded during the year - Due to the profit for the year, the Group's total equity increased by approximately **HKD 9,974 thousand** to approximately **HKD 334,066 thousand** as of March 31, 2025 (2024: **HKD 324,092 thousand**)[68](index=68&type=chunk) [Other Information](index=31&type=section&id=%E5%85%B6%E4%BB%96%E8%B3%87%E6%96%99) This section covers additional information regarding the Group's liquidity, treasury policies, asset pledges, contingent liabilities, capital commitments, significant investments, capital structure, employees, and corporate governance practices [Liquidity and Financial Resources](index=31&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E5%8F%8A%E8%B2%A1%E6%94%BF%E8%B3%87%E6%BA%90) The Group maintains prudent cash and financial management policies, with a significant increase in cash and cash equivalents, robust current and quick ratios, and a net cash position, indicating strong liquidity and financial health - The Group's treasury activities are centrally managed, with cash generally held as deposits in banks[69](index=69&type=chunk) - As of March 31, 2025, the Group's total cash and cash equivalents were approximately **HKD 27,315 thousand** (2024: **HKD 15,248 thousand**), with the increase primarily due to new cash inflows from the property management business and net cash inflows from the disposal of a subsidiary[69](index=69&type=chunk) Liquidity Ratios | Indicator | March 31, 2025 | March 31, 2024 | | :--- | :--- | :--- | | Current ratio | 2.66 | 2.99 | | Quick ratio | 2.61 | 2.92 | | Assets to liabilities ratio | Net cash position | 4.7% | [Treasury Policy and Foreign Exchange Risk](index=32&type=section&id=%E5%BA%AB%E5%8B%99%E6%94%BF%E7%AD%96%E5%8F%8A%E5%A4%96%E5%8C%AF%E9%A2%A8%E9%9A%AA) The Group's transactions are primarily denominated in USD, RMB, and HKD, resulting in insignificant foreign exchange risk, and no hedging activities were undertaken in the current or prior year - Most of the Group's trading transactions, monetary assets, and liabilities are denominated in USD, RMB, and HKD, thus foreign exchange risk is not significant to the Group[70](index=70&type=chunk) - For the year ended March 31, 2025, and as of March 31, 2025, the Group did not undertake any related hedging activities[70](index=70&type=chunk) [Pledge of the Group's Assets](index=32&type=section&id=%E6%9C%AC%E9%9B%86%E5%9C%98%E4%B9%8B%E8%B3%87%E7%94%A2%E6%8A%B5%E6%8A%BC) The Group had no pledged assets as of March 31, 2025, or March 31, 2024 - As of March 31, 2025, and March 31, 2024, the Group had no pledged assets[71](index=71&type=chunk) [Contingent Liabilities](index=32&type=section&id=%E6%88%96%E7%84%B6%E8%B2%A0%E5%82%B5) As of March 31, 2025, the Group had no significant contingent liabilities other than contingent consideration payable - As of March 31, 2025, the Group had no significant contingent liabilities other than contingent consideration payable[72](index=72&type=chunk) [Capital Commitments](index=32&type=section&id=%E8%B3%87%E6%9C%AC%E6%89%BF%E6%93%94) As of March 31, 2025, the Group had no significant capital commitments - As of March 31, 2025, the Group had no significant capital commitments[73](index=73&type=chunk) [Significant Investments, Acquisitions or Disposals](index=32&type=section&id=%E9%87%8D%E5%A4%A7%E6%8A%95%E8%B3%87%E3%80%81%E6%94%B6%E8%B3%BC%E6%88%96%E5%87%BA%E5%94%AE) The Group made one significant acquisition during the year, acquiring a 51% equity interest in Hong Kong Letu Holdings Limited, with no other major acquisitions or disposals - On **December 30, 2024**, Langhua International Services Holdings Limited, a wholly-owned subsidiary of the Company, acquired a **51%** equity interest in Hong Kong Letu Holdings Limited[74](index=74&type=chunk) - Save for the aforementioned acquisition, the Group had no other significant acquisitions or disposals for the year ended March 31, 2025[74](index=74&type=chunk) [Capital Structure and Use of Proceeds](index=33&type=section&id=%E8%B3%87%E6%9C%AC%E6%9E%B6%E6%A7%8B%E5%8F%8A%E6%89%80%E5%BE%97%E6%AC%BE%E9%A0%85%E7%94%A8%E9%80%94) The Group maintains a sound capital structure with an increase in total equity, and all past proceeds have been fully utilized, with no new proceeds received or utilized during the current year Authorized and Issued Share Capital (HKD thousands) | Category | Number of Shares | Share Capital (HKD thousands) | | :--- | :--- | :--- | | Authorized ordinary shares (par value HKD 0.1 per share) | 2,500,000,000 | 250,000 | | Issued and fully paid ordinary shares (par value HKD 0.1 per share) | 1,518,442,426 | 151,844 | - The Group's total equity was approximately **HKD 334,066 thousand**, an increase of approximately **3.1%** compared to March 31, 2024[76](index=76&type=chunk) - All proceeds were fully utilized before **April 1, 2024**, and no new proceeds were received or utilized during the current year[80](index=80&type=chunk) [Employees and Remuneration Policy](index=34&type=section&id=%E5%83%B1%E5%93%A1%E5%8F%8A%E8%96%AA%E9%85%AC%E6%94%BF%E7%AD%96) The Group's total number of employees increased to 42, but total staff costs significantly decreased, primarily due to the termination of the fintech business and reduced employee share award scheme expenses, with remuneration policies based on performance and market conditions, offering various benefits - As of March 31, 2025, the Group had a total of **42 employees** (2024: **36 employees**)[81](index=81&type=chunk) - Total staff costs for the year ended March 31, 2025, decreased to approximately **HKD 7,078 thousand** (2024: **HKD 29,121 thousand**), primarily due to reduced staff costs from the fintech business and the employee share award scheme[81](index=81&type=chunk) - Remuneration policy is determined based on the performance of individual employees and directors and market conditions, with benefits including salaries, discretionary bonuses, medical schemes, provident fund contributions, share option schemes, and staff training[81](index=81&type=chunk) [Human Resources and Employee Remuneration](index=35&type=section&id=%E4%BA%BA%E5%8A%9B%E8%B3%87%E6%BA%90%E5%8F%8A%E5%83%B1%E5%93%A1%E8%96%AA%E9%85%AC) The Company adopted the Langhua International Share Award Scheme to recognize and incentivize eligible participants' contributions to the Group, which was approved by shareholders on March 18, 2024, and resulted in the allotment of 61,204,012 new shares - The Langhua International Share Award Scheme aims to recognize and reward eligible participants for their contributions to the Group and to incentivize improved performance and efficiency[82](index=82&type=chunk) - The scheme was approved by shareholders on **March 18, 2024**, and is valid for **10 years**[84](index=84&type=chunk) - For the year ended March 31, 2025, the Group allotted **61,204,012 new shares** of the Company under the Langhua International Share Award Scheme[85](index=85&type=chunk) [Share Option Schemes](index=36&type=section&id=%E8%B3%BC%E8%82%A1%E6%AC%8A%E8%A8%88%E5%8A%83) The Company terminated the 2021 and 2011 schemes, with no share options granted under the 2021 scheme, and as of March 31, 2025, the Company had no outstanding share options - The 2021 Scheme became effective on **September 10, 2021**, for a period of **10 years**, but was terminated upon the effectiveness of the Share Award Scheme on **March 18, 2024**[87](index=87&type=chunk)[89](index=89&type=chunk) - No share options were granted under the 2021 Scheme[88](index=88&type=chunk) - On **March 18, 2024**, the Company terminated the 2011 Scheme, and as of March 31, 2025, the Company had **zero** outstanding share options to subscribe for shares under the 2011 Scheme[90](index=90&type=chunk) [Events After Reporting Period](index=37&type=section&id=%E5%A0%B1%E5%91%8A%E6%9C%9F%E5%BE%8C%E4%BA%8B%E9%A0%85) No significant events occurred after the year ended March 31, 2025, up to the date of this announcement - No significant events occurred after the year ended March 31, 2025, up to the date of this announcement[91](index=91&type=chunk) [Corporate Governance Practices](index=37&type=section&id=%E4%BC%81%E6%A5%AD%E7%AE%A1%E6%B2%BB%E5%B8%B8%E8%A6%8F) The Company has adopted and complied with the Corporate Governance Code for the year ended March 31, 2025, with the Board annually reviewing and confirming the effectiveness and adequacy of risk management and internal control systems - The Company's corporate governance practices code was adopted with reference to the Corporate Governance Code set out in Appendix 15 to the GEM Listing Rules[92](index=92&type=chunk) - From March 31, 2025, up to the date of this announcement, the Board confirmed that all Directors complied with the Corporate Governance Code for the year ended March 31, 2025[92](index=92&type=chunk) - The Board has conducted an annual review of the overall effectiveness of the Group's risk management and internal control systems and considers them effective and adequate[95](index=95&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=37&type=section&id=%E8%B3%BC%E8%B2%B7%E3%80%81%E9%8A%B7%E5%94%AE%E6%88%96%E8%B4%96%E5%9B%9E%E6%9C%AC%E5%85%AC%E5%8F%B8%E7%9A%84%E4%B8%8A%E5%B8%82%E8%AD%89%E5%88%B8) Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the year ended March 31, 2025 - Neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities during the year ended March 31, 2025[93](index=93&type=chunk) [Directors' Securities Transactions](index=37&type=section&id=%E8%91%A3%E4%BA%8B%E9%80%B2%E8%A1%8C%E8%AD%89%E5%88%B8%E4%BA%A4%E6%98%93) The Company has adopted a code of conduct for directors' securities transactions, and each director confirmed compliance with this code for the year ended March 31, 2025 - The Company has adopted a code of conduct for directors' securities transactions, with terms no less exacting than the required standard of dealings set out in Rules 5.48 to 5.67 of the GEM Listing Rules[94](index=94&type=chunk) - Each Director confirmed compliance with the required standard of dealings and the code of conduct for directors' securities transactions for the year ended March 31, 2025[94](index=94&type=chunk) [Audit Committee](index=38&type=section&id=%E5%AF%A9%E6%A0%B8%E5%A7%94%E5%93%A1%E6%9C%83) The Audit Committee, comprising three independent non-executive directors, reviews and monitors financial reporting, risk management, and internal control systems, and has reviewed the audited financial statements for the year, confirming their compliance with applicable accounting standards and disclosure requirements - The Audit Committee comprises three independent non-executive directors: Ms Chan Mei Yan (Chairperson), Ms Wong King Shu, and Mr Pang Ngan[96](index=96&type=chunk) - Its primary responsibilities include reviewing and monitoring the Group's financial reporting system, risk management, and internal control procedures, reviewing financial information, and reviewing the relationship with the auditors[96](index=96&type=chunk) - The Audit Committee has reviewed the audited financial statements for the year and is of the opinion that they comply with applicable accounting standards, GEM Listing Rules, and statutory requirements, and that adequate disclosures have been made[96](index=96&type=chunk) [Auditor](index=39&type=section&id=%E6%A0%B8%E6%95%B8%E5%B8%AB) The Group's auditor, Treasure Trust CPA Limited, has agreed that the financial figures in this announcement align with the audited consolidated financial statements, though their work does not constitute an assurance engagement - The Group's auditor, Treasure Trust CPA Limited, has agreed that the figures in the consolidated statement of financial position, consolidated statement of profit or loss and other comprehensive income, consolidated statement of changes in equity, and their related notes in this announcement are consistent with the amounts set out in the audited consolidated financial statements[97](index=97&type=chunk) - The work performed by the auditor in this respect does not constitute an assurance engagement in accordance with Hong Kong Standards on Auditing, Hong Kong Standards on Review Engagements, or Hong Kong Standards on Assurance Engagements issued by the HKICPA[97](index=97&type=chunk) [Publication of Annual Report](index=39&type=section&id=%E5%88%8A%E7%99%BC%E5%B9%B4%E5%A0%B1) This annual results announcement is published on the Stock Exchange and the Company's website, and the 2025 Annual Report will be dispatched to shareholders and published on relevant websites in due course in accordance with the Listing Rules - This annual results announcement is published on the Stock Exchange and the Company's website[98](index=98&type=chunk) - The 2025 Annual Report will be dispatched to shareholders and published on the Stock Exchange and the Company's website in due course in accordance with the Listing Rules[98](index=98&type=chunk) [Board of Directors](index=39&type=section&id=%E8%91%A3%E4%BA%8B%E6%9C%83) As of the date of this announcement, the Board of Directors comprises Mr Zhang Chunhua (Executive Director and Chairman), Ms Zhang Chunping (Executive Director and Chief Executive Officer), and three Independent Non-executive Directors: Ms Chan Mei Yan, Ms Wong King Shu, and Mr Pang Ngan - The Board of Directors comprises: Mr Zhang Chunhua (Executive Director (Chairman)), Ms Zhang Chunping (Executive Director and Chief Executive Officer), Ms Chan Mei Yan (Independent Non-executive Director), Ms Wong King Shu (Independent Non-executive Director), and Mr Pang Ngan (Independent Non-executive Director)[100](index=100&type=chunk)

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 CHINA BRILLIANT GLOBAL LIMITED 朗華國際集團有限公 司 （於開曼群島註冊成立之有限公司） （股份代號：8026） 董事名單及其角色與職能 朗華國際集團有限公司董事會（「董事會」）成員載列如下。 張春華先生 （主席） 張春萍女士 （首席執行官） 獨立非執行董事 陳美恩女士 黃敬舒女士 彭銀先生 董事會設立三個委員會。各董事會成員在這些委員會中所擔任的職位載列如下。 審核委員會： 陳美恩女士 （主席） 黃敬舒女士 （成員） 彭銀先生 （成員） 薪酬委員會： 彭銀先生 （主席） 陳美恩女士 （成員） 黃敬舒女士 （成員） 提名委員會： 黃敬舒女士 （主席） 張春萍女士 （成員） 陳美恩女士 （成員） 彭銀先生 （成員） 執行董事 香港，二零二五年六月二十七日 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 CHINA BRILLIANT GLOBAL LIMITED 朗華國際集團有限公 司 （於開曼群島註冊成立之有限公司） （股份代號：8026） 朗華國際集團有限公司 主席兼執行董事 張春華 香港，二零二五年六月二十七日 董事委員會組成變動 朗華國際集團有限公司（「本公司」）董事（「董事」）會（「董事會」）宣佈本公司提 名委員會的組成變動： 獨立非執行董事彭銀先生獲委任為提名委員會成員，自二零二五年六月二十七 日起生效。 承董事會命 – 1 – 於本公告日期，董事會包括以下董事： 張春華先生（執行董事（主席）） 張春萍女士（執行董事兼首席執行官） 陳美恩女士（獨立非執行董事） 黃敬舒女士（獨立非執行董事） 彭銀先生（獨立非執行董事） 本公告乃遵照GEM上市規則之規定而提供有關本公司之資料，各董事願就此共同及個別承擔 全部責任。各董事經作出一切合理查詢後確認，就彼等所深知及確信，本公告所載資料在各 重大方面 ...

（自2025年6月27日起修訂及重列） CHINA BRILLIANT GLOBAL LIMITED 朗華國際集團有限公 司 （於開曼群島註冊成立之有限公司） （股份代號：8026） 提名委員會的職權範圍 3. 會議通知 4. 出席會議 1. 組成 1.1 提名委員會乃根據本公司董事會（「董事會」）於2018年11月7日通過的決議 案成立。提名委員會的組成須符合香港聯合交易所有限公司（「聯交所」） 創業板證券上市規則（「創業板上市規則」）不時的規定。 2. 成員 – 1 – 2.1 提名委員會成員須由董事會從本公司董事中委任，並須由不少於三名成 員組成，大多數成員應為獨立非執行董事。 2.2 提名委員會主席須由董事會委任並須為董事會主席或獨立非執行董事。 2.3 經董事會及提名委員會分別通過決議案後，方可撤銷、更換提名委員會成 員的任命或委任額外提名委員會成員。倘有關成員不再為董事會成員，則 其提名委員會成員的任命將自動撤銷。 2.4 提名委員會成員的任期須由董事會釐定。 2.5 提名委員會成員必須包括最少一位不同性別董事。 – 2 – 3.1 除非提名委員會全體成員另行協議，否則召開會議的通知期最少須為14 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 CHINA BRILLIANT GLOBAL LIMITED 朗華國際集團有限公 司 （於開曼群島註冊成立之有限公司） （股份代號：8026） 正面盈利預告 本公告由朗華國際集團有限公司（「本公司」，連同其附屬公司統稱「本集團」） 根據香港聯合交易所有限公司GEM證券上市規則（「GEM上市規則」）第17.10(2) 條及香港法例第571章證券及期貨條例第XIVA部項下內幕消息條文而作出。 本公司董事（「董事」）會謹此知會本公司股東（「股東」）及潛在投資者，根據本 公司現有資料及對本集團截至二零二五年三月三十一日止年度（「本年度」）之 最近期未經審核綜合管理賬目進行之初步審閱，預期本集團於本年度將錄得 溢利約900萬港元至1,100萬港元，而截至二零二四年三月三十一日止年度（「上 年度」）則錄得虧損約7,600萬港元。 經營業績扭虧為盈主要是由於物業管理業務之經營溢利約1,600萬港元以所致。 此外，根據 ...

朗華國際集團有限公 司 （於開曼群島註冊成立之有限公司） （股份代號：8026） 董事會會議通告 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 CHINA BRILLIANT GLOBAL LIMITED 於本公告日期，董事會包括以下董事： 張春華先生（執行董事（主席）） 張春萍女士（執行董事兼首席執行官） 陳美恩女士（獨立非執行董事） 黃敬舒女士（獨立非執行董事） 彭銀先生（獨立非執行董事） 本公告乃遵照GEM上市規則之規定而提供有關本公司之資料，各董事願就此共同及個別承擔 全部責任。各董事經作出一切合理查詢後確認，就彼等所深知及確信，本公告所載資料在各 重大方面均屬準確及完整，並無誤導或欺騙成分，且本公告並無遺漏其他事項，以致本公告 內任何聲明或本公告產生誤導。 本公告將登載於GEM網 站 www.hkgem.com 「最 新 上 市 公 司 公 告」頁 內 及 本 公 司 網 站 www.cbg.com.hk ，自登載日期起計至少保留7天。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 朗華國際集團有限公司 呈交日期： 2025年3月27日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 08026 | 說明 | | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 本公告僅供參考，並不構成收購、購買或認購本公司證券之邀請或要約。 CHINA BRILLIANT GLOBAL LIMITED 朗華國際集團有限公 司 （於開曼群島註冊成立之有限公司） （股份代號：8026） 有關 股份交易 建議收購目標公司已發行股本的51%， 涉及根據一般授權發行代價股份 的澄清及補充公告 本公告由朗華國際集團有限公司（「本公司」，連同其附屬公司統稱「本集團」） 董事（「董事」）會（「董事會」）作出。茲提述本公司日期為2024年12月30日有關收 購事項的公告（「該公告」）。除另有界定外，本補充公告所用詞彙與該公告所界 定者具有相同涵義。 本公司謹此澄清及補充以下載於該公告所載若干資料如下： 估值報告詳情 估值師的工作範圍包括評估前工作、實地考察、評估材料收集及整理、評估及 估算工作，以及編製概要分析及報告。 估值師所倚賴的資料為目標公司提供的財務資料，該等財務資料已由估值師 獨立核 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 CHINA BRILLIANT GLOBAL LIMITED 朗華國際集團有限公 司 （於開曼群島註冊成立之有限公司） （股份代號：8026） 有關 (I)截至二零二四年三月三十一日止年度的年度報告； 及 (II)股份獎勵計劃 的補充公告 朗華國際集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」）會 （「董事會」）謹此提供年報內有關本公司重大投資、股份獎勵計劃（於年度報告內亦界 定為「朗華國際股份獎勵計劃」）及借貸業務的詳情，以及股份獎勵計劃公告及通函內 有關已授出獎勵及更改歸屬條件的詳情。 (I) 年報 茲提述本公司於二零二四年七月二十九日所刊發截至二零二四年三月三十一日止年 度的年度報告（「年報」）。除另有定義或文義另有所指外，本公告所用詞彙與年報所 界定者具有相同涵義。 重大投資 除管理層討論及分析內「業務回顧及展望」一節下有關金融科技業務的披露外，本公 司謹此根據GEM上市 ...